Regulatory Alerts2026-06-12 | PDF OnlyAdded
Section 314(b) Fact Sheet
FinCEN issued this fact sheet to clarify the permissibility of real-time information sharing under section 314(b) of the USA PATRIOT Act, specifying that financial institutions and associations may share data regarding fraud, money laundering, and terrorist financing. The document confirms that sharing is voluntary and protected by a safe harbor from liability, allowing for the exchange of various data types including transaction records, surveillance footage, and cyber-related indicators without BSA limitations on personally identifiable information. It further establishes that entities forming associations need not be regulated financial institutions themselves and that unincorporated associations governed by contract are eligible to participate. Additionally, the guidance permits financial institutions to file joint Suspicious Activity Reports (SARs) after collaborating through section 314(b), while maintaining strict prohibitions against disclosing the existence of SARs to non-participating parties.